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6:40 PM ET, September 29, 2008


 Top Items: 
Paul Krugman:
OK, we are a banana republic  —  House votes no. Rex Nutting has the best line: House to Wall Street: Drop Dead.  He also correctly places the blame and/or credit with House Republicans.  For reasons I've already explained, I don't think the Dem leadership was in a position to craft a bill …
New York Times:
House Rejects Bailout Package, 228-205; Stocks Plunge  —  WASHINGTON — In a moment of historic import in the Capitol and on Wall Street, the House of Representatives voted on Monday to reject a $700 billion rescue of the financial industry.  The vote came in stunning defiance of President Bush …
Chris Isidore /
Bailout plan rejected  —  House leaders scramble for support for controversial Wall Street plan.  —  NEW YORK ( — The fate of the Bush administration's $700 billion financial bailout plan was abruptly thrown in doubt Monday as a House vote turned against the controversial measure.
Paul Krugman:
Bailout questions answered  —  I'm being asked two big questions about this thing: (1) Was it really necessary?  (2) Shouldn't Dems have tossed the whole Paulson approach out the window and done something completely different?  —  On (1), the answer is yes.
Wall Street Journal:
Stocks Plunge as Rescue Plan Fails to Gain House Approval
Discussion: FP Passport and Salon
Jeffrey Goldberg:
Sarah Palin Endorses Hamas  —  How can it be that some people still pretend that Sarah Palin is suited for high office?  This country has never seen someone so comprehensively unprepared for the vice presidency; Dan Quayle was Metternich by comparison.  I've watched Sarah Palin's interview …
Howard Kurtz / Washington Post:
‘Substantive’ Press Is Taken for a Spin  —  OXFORD, Miss. — David Axelrod was surrounded by a pack of camera-toting, mike-wielding, pushing-and-shoving media types, one of whom asked whether his man Barack Obama had been “too nice” in the just-completed debate with John McCain.
Ben Smith / Ben Smith's Blogs:
More to come from Palin-Couric  —  Howie Kurtz raised some eyebrows by reporting this morning that “the worst may be yet to come for Palin; sources say CBS has two more responses on tape that will likely prove embarrassing.”  —  A source familiar with CBS News' plans clarified that this is part of the …
Jonathan Martin / Jonathan Martin's Blogs:
In reintroduction, Palin to do more interviews and “tell her story”  —  Tacitly acknowledging criticism that she's been diminished in part by an overly protective media shield, Sarah Palin will take a more forward-leaning approach and do additional interviews in the weeks ahead, a top aide said today.
Discussion: Spin Cycle
Andrew Malcolm / Top of the Ticket:
How Democrats set Sarah Palin up to ‘win’ Thursday's VP debate
Mike Allen / The Politico:
McCain takes credit for bill before it loses  —  Sen. John McCain (R-Ariz.) and his top aides took credit for building a winning bailout coalition - hours before the vote failed and stocks tanked.  —  The rush to claim he had engineered a victory now looks like a strategic blunder …
Amanda / Think Progress:
After Taking Credit For Bailout Bill, Is McCain Campaign Willing …
Discussion: Emptywheel and Daily Kos
Patrick Edaburn / The Moderate Voice:
House REJECTS Bailout Bill
Washington Wire:
McCain Blames Obama and Democrats, Despite Lopsided Vote
Discussion: MyDD, Political Punch and Commentary
Michelle Malkin:
Nancy Pelosi's bailout attack speech on the House floor; Update: Pence statement added  —  I noted it during my liveblog of the House debate.  Here's a video sample of her crap sandwich.  As I mentioned while it was happening, she received multiple rounds of applause on the floor before and after her spittle-flecked statement.
SilentPatriot / Crooks and Liars:
Shorter House GOP: We killed the bailout bill because Pelosi hurt our feelings
Discussion: Politics Blog
Ed Morrissey / Hot Air:
Breaking: Bailout bill fails, Dow roller-coasters; Update: Pelosi speech added
Ben Smith / Ben Smith's Blogs:
McCain blames Obama, not House GOP, for House vote
Discussion: AMERICAblog News and
Glenn Greenwald / Salon:
Bailout follows the 10 normal principles for how our government functions  —  (updated below - Update II)  —  The word being used most frequently to describe the bailout package that is about to pass is “extraordinary.”  That adjective may apply to the amounts of money being transferred …
David Kurtz / Talking Points Memo:
Discussion: Spin Cycle and TheZoo
David Kurtz / Talking Points Memo:
IT HURT THEIR FEELINGS?  —  Rep. Barney Frank (D-MA) …
Rasmussen Reports:
Opposition to Bailout Plan Falls Dramatically  —  As Congress prepares to vote on a proposed economic rescue plan, opposition to the measure has declined significantly.  A Rasmussen Reports national telephone survey conducted Sunday found that 33% of Likely Voters now favor the plan while 32% are opposed and 35% are not sure.
Discussion: Donklephant and Eunomia
Ross Douthat:
Three Scenarios  —  The best case: This is an example …
Discussion: The American Scene
Ezra Klein / American Prospect:
A FAILURE OF POLITICS.  —  The final vote was 205 in favor, 228 against.  This is a huge failure.  A revolt of the incumbents.  More Republicans voted to kill the bill than did Democrats, but not by that much.  The leadership of both parties were whipping in the bills favor.
Nate Silver /
Swing District Congressmen Doomed Bailout  —  This was predictable, I suppose, but it's remarkable to see how strong a relationship there is between today's failed vote on the bailout and the competitive nature of different House races.  —  Among 38 incumbent congressmen in races rated as …
Discussion: MoJoBlog, Salon and Spin Cycle
Jonathan Martin / Jonathan Martin's Blogs:
Obama sought rape victim for ad  —  Barack Obama's campaign earlier this month sought to find a rape victim to appear in a campaign commercial, according to an e-mail obtained by Politico.  —  Kiersten Steward, director of public policy at the Family Violence Prevention Fund …
Alexandra Twin /
Stocks crushed  —  Dow down 778, worst point drop ever, after the House rejects the $700 billion bank bailout plan.  —  NEW YORK ( — Stocks skidded Monday afternoon, with the Dow's nearly 778-point drop being the worst single-day point loss ever, after the House rejected the government's $700 billion bank bailout plan.
William Kristol / Weekly Standard:
McCain's Moment  —  No one wants to take ownership of the task of rescuing the economy right now.  The Bush-Paulson plan has failed.  The administration, House Democrats, and House Republicans (above all) have all proved unable to deliver.  But there is someone who might be able to save the economy …
Gallup Daily: Obama Maintains 8-Point Lead  —  Registered voters prefer Obama to McCain, 50% to 42%  —  PRINCETON, NJ — The latest Gallup Poll Daily tracking update, based on Sept. 26-28 polling, shows Barack Obama with a 50% to 42% lead over John McCain, unchanged from the prior report.
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 More Items: 
Eve Fairbanks / The New Republic:
The Republicans Who Voted For It  —  One interesting metric in today's bailout-bill vote:
Fed Pumps Further $630 Billion Into Financial System
Debbi Baker / San Diego Union-Tribune:
Ex-CIA official pleads guilty in Cunningham scandal
Ian Welsh / Firedoglake:
Give Paulson 150 Billion and Come Back In January and Do it RIGHT …
Discussion: Seeing the Forest
The Politico:
McCain blames Obama for bailout defeat
Discussion: The Daily Dish
David Bernstein / The Volokh Conspiracy:
EARMARKS AS A “GATEWAY DRUG”: That's what McCain said at the debate …
Amb. Richard C. Holbrooke / The Huffington Post:
Calm, Methodical Obama vs. Angry, Ungracious McCain
Discussion: Swampland
 Earlier Items: 
Tom Jensen / Public Policy Polling:
Obama takes the lead in North Carolina
Michelle Malkin:
Breaking: It's official. …
Discussion: Gateway Pundit
Josh Marshall / Talking Points Memo:
COMIC RELIEF  —  Minority Leader Boehner (R-OH) says it's …
Brad Flora / Windy Citizen Full Feed:
Chicago dive bar scores hit with nude Sarah Palin portrait
Discussion: Gawker and Wake up America
David Kurtz / Talking Points Memo:
Discussion: Harry's Place
Stanley Kurtz / New York Post: